Pak Rupee Rises 5th Consecutive Day Against US Dollar

The Pakistani rupee gained more ground against the US Dollar after opening trade at 277 in the interbank market. It was bullish against the greenback today during most of the session. The interbank rate stayed at 278 most of the day before closing at the 278 level. Open market rates across multiple currency counters were in the 277-279 range today. The PKR appreciated by 0.02 percent to close at 278.07 after gaining 5 paisas against the dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 2.79 percent. Overall, the rupee is down nearly Rs. 51.83 since January 2023. Since April 2022, it is down Rs. 95.83 against the greenback. As per the exchange rate movements seen today, the PKR gained five paisas today. The PKR was green against some of the other major currencies in the interbank market today. It gained one paisa against the UAE Dirham (AED) and one paisa against the Saudi Riyal (SAR). Meanwhile, it lost 11 paisas against the Canadian Dollar (CAD), 33 paisas against the Australian Dollar (AUD), 60 paisas against the Euro (EUR), and Rs. 1.16 against the British Pound (GBP) in today’s interbank currency market.